Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 165 - Income tax consequences of changing ownership or control of a company  

Subdivision 165-CB - Working out the net capital gain and the net capital loss for the income year of the change  

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History

Subdiv 165-CB inserted by No 46 of 1998.

When a company must work out its net capital gain and net capital loss under this Subdivision

SECTION 165-102  

165-102   On a change of ownership, or of control of voting power, unless the company satisfies the business continuity test  
A company must calculate its *net capital gain and *net capital loss for the income year under this Subdivision if:

(a) it must calculate its taxable income and *tax loss for the income year under Subdivision 165-B ; or

Note:

Subdivision 165-F may affect the application of Subdivision 165-B .

(b) it would be required to calculate them under that Subdivision but for subsection 165-50(3) (about cases where that Subdivision would make no difference to the taxable income).

Note:

In the case of a widely held or eligible Division 166 company, Subdivision 166-B modifies how this Subdivision applies, unless the company chooses otherwise.

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History

S 165-102 amended by No 147 of 2005 and No 58 of 2000, and inserted by No 46 of 1998.

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